2 " Velkommen til å investere i SEBs fremtid!"“Vi er aktive i et utfordrene miljø, men SEB har stabilitet og et langtidsperspektiv som skaper verdier for bankens kunder på lang sikt, og dermed også for våre aksjonærer.Suksessen avhenger av ditt og dine kollegaers engasjement.Aksjespareprogrammet gir deg muligheten til å ta del i SEBs langsiktige verdiskapning.Jeg håper programme vil oppmuntre deg til å eie en andel av det selskapet du arbeider i.”The decision to launch the first Share Savings Programme was made at the annual general meeting 2008.This year, 2012, the programme is offered the employees for the fifth time.The intention from the owners is to create a clear connection between the employees individual efforts and the development of SEB as a whole.The purpose is to create a long-term commitment to SEB, by giving an incentive to all employees to own shares in the company.The programme is aimed at uniting employees and creating One SEB - across the organisation, across borders.Marcus WallenbergChairman of the Board of Directors2

3 The Share Savings Programme 2012Samme struktur som tidligere årDu får en innbydelse i begynnelsen avseptemberSøk på nettet senest 30. september.Avgjørelsen for 2012 programmetÅrlig generalforsamling den 29. marsDeltagende landDanmarkEstlandFinnlandTysklandLatviaLitauenDe kvalifiserte erNesten alle ansatte med permanent ansettelse kan deltaMidlertidig ansatte og timelønnede, samt deltagere i Share Matching programme 2012 kan ikke deltaLuxembourgNorwaySingaporeSwedenUKUSAThe decision to implement the Share Savings Programme was taken by the owners of SEB at the Annual General Meeting on 29 March It was decided to implement it in all countries, except where it proved too difficult in terms of cost or administration.In the first share savings programme, 10 countries participated. From the second year, the 10 countries from the first year plus USA and Singapore participated. All employees in each country are eligible to participate, except for hourly wage earners, employees with a temporary employment status and participants in the share matching programme 2012 or share deferral programme 2012.

4 Programmet i korthetDu kan spare opptil fem prosent av grunnlønnen din før skatt, til kjøp av SEB aksjer.Om aksjene beholdes i tre år og du fortsatt er ansatt i SEB, får du vederlagsfritt en aksje for hver aksje du har kjøpt – en såkalt insentivaksje.Aksjene er ikke låst i spareperioden, du kan stoppe å spare når som helst og programmet legger ingen begrensninger på når du kan selge aksjer.The basic offer in the Share Savings Programme is “Buy one – get one for free”. You buy shares within the programme, and after three years, SEB will give you the same amount for free – although you will in most countries have to pay income tax on the value of the shares you receive for free.If you decide to participate now, you can always change or stop your savings or sell your shares before the three years have elapsed, if you would like to.If you stop your savings during the savings period, you will keep shares already bought for your account and you will receive matching shares for these after three years. However, if you sell shares before the three years have elapsed, you will not receive any matching shares for the shares you sold.

5 Periodeoversikt Spareperiode Kvalifiseringsperiode “Matching” periodeNovember 2012– Oktober 2013Mådedlig sparetrekk fra nettolønnenKvartalvise aksjekjøpKvalifiseringsperiode36 måneder etter hvert aksjekjøpBehold aksjeneFortsett å jobbe i SEB“Matching” periodeFebruar 2016– November 2016Kvartalsvis aksje “matching”Èn aksje vederlagsfritt for hver aksje kjøpt i spareperiodenThe program works like this:If you participate in the share savings programme, you choose an amount of up to five percent of your monthly fixed gross salary, before any additional payments, bonuses etc. This amount will be deducted from each net salary during the Savings Period, i.e. between November 2012 and October If you don’t participate from the start, you can decide to participate from February or June 2013.Once every quarter during the Savings Period, after the quarterly reports have been issued, SEB will use the saved money to buy SEB Class A shares for your account. The first purchase will be made in February 2013, the last in November 2013.After each share purchase, a 36-month qualification period starts, where you just have to keep your shares and stay with SEB.After the three years, the matching period begins. Now, SEB will match your share purchase – That means, that SEB will give you the same number of shares which was bought for your savings three years earlier. As you receive these shares for free from SEB, they are considered a benefit in kind and you will have to pay income tax on the value of those shares.

6 Noen fakta Det er mulig å forlate programmet når som helstDu kan stoppe å spareDu kan selge aksje som allerede er kjøptÅ forandre sparebeløp er mulig to ganger i løpet av programmetFra februar og Juni lønnstrekketDu har samme rettigheter som en ordinær aksjonær, inklusive utbytteUtbytte reinvesteres i SEB aksjerIf you decide to participate now, you can always change or stop your savings or sell your shares before the three years have elapsed, if you would like to.If you stop your savings during the savings period, you will keep shares already bought for your account and you will receive matching shares for these after three years. However, if you sell shares before the three years have elapsed, you will not receive any matching shares for the shares you sold.Just as any other shareholder, you will receive dividends and are entitled to visit the annual general meetings. Any dividend payouts will be reinvested in SEB shares after deduction of tax.

7 Administrasjon – Equate PlusEquate Plus – webbasert system som eies av UBSDeltagere i de foregående programmer beholder brukernavn, passord etc.Tilgang via internett, fungerer som en nettbank24/7, kan duFølge med på saldo og verdiutviklingPlassere salgs- og overføringsordreUBS kundesenter kan hjelpe deg og svare på spørsmål angående E+. Spørsmål om selve aksjespareprogrammet og deltagelse stilles til HRAksjene vil bli holdt i depot av SEBDu behøver ikke din egen depotkontoIf you decide to participate, the administration of the programme is taken care of by Equate Plus – a web based computer system provided by the Union Bank of Switzerland, UBS.You access this programme from any computer connected to the internet, just like an internet bank. Here you can view your share holdings and statements and put sales and transfer orders.UBS also offers a call centre which can answer your questions around Equate Plus and also put sales and transfer orders.The shares will be held in custody for you by SEB, you do not need to have a private custody account to participate in the programme.

8 Hva skjer om…? Hvis du slutter eller ansettelseskontrakten utløperSparingen vil bli stoppetRetten til insentivaksjer opphørerDu kan selge dine aksje eller overføre dem til eget depotVed oppsigelse på grunn av overtallighet eller pensjonRettighetene på insentivaksjer for aksje som allerede er kjøpt vil ikke bli påvirketAnsatte i fødselspermisjon, sykemeldte, innvilget permisjon etcSparingen vil fortsetteDu er kvalifisert for mottak av insentivaksjer dersom du beholder aksjene du har kjøptTo receive the matching shares in the share savings programme, you must stay with SEB for three years from the share purchases.Should you decide to leave SEB during the savings period, i.e. before November 2013, your savings will be stopped. Regardless of if you quit during the savings period or during the qualification period, you will lose your right to matching shares. However, you will of course keep any shares which have been bought for your account, but you have to sell them or transfer them to your own custody account within a short period of time.If you retire or if SEB for example sells the business in which you are working, your savings will be stopped. However, you will retain your right to matching shares for shares already bought, if you keep them during the qualification period.If you for example go on parental leave or get sick, the savings will continue throughout the savings period. You yourself must make sure that the savings are received by SEB, if your salary is lower than the savings amount you choose. You can stop the savings at any time or change it from February and May. You will retain the right to matching shares for shares which you keep throughout the qualification period.

9 Risiko! Å eie aksjer innebærer en finansiell risikoDet finnes ingen garantier for fortjeneste/utbytte/lønnsomhet eller for at du vil få tilbake pengene du har investertUtviklingen av aksjekursen er forbundet med en rekke faktorer som SEB ikke har kontroll overAnsatte utenfor Sverige er eksponert for valutarisiko (så vel som en mulighet for en positiv effekt)The Share Savings Programme is set up to create an incentive to own shares in SEB. However, as with all investments in shares, there is an element of riskThere are no guarantees that the programme will be profitable or that you will receive all or any of your invested money back at the end of the programme.Remember that as a shareholder, you need a long-term perspective. Do not invest money you think you may need in the short-term.The share price is related to a number of other factors, over which SEB has no control. For example, the general economic development, interest rates, exchange rates, inflation and policy changes. The performance of competitors can also affect the share price.Regardless of the currency that you receive your salary in, the shares will be bought in Swedish Krona. All participants in the programme who do not receive their salary in Swedish Krona face a currency exchange risk, as the SEB shares are listed in Sweden and are priced in Swedish Krona.

11 For å søkeLink med innloggingskode for websøknad finnes i invitasjonenOm du deltar i tidligere aksjespareprogram er det meste av informasjonen forhåndsutfylt, men du må allikevel registrere deg på nytt om du vil delta I 2012 programmet.Nye deltagere må bl.a. utfylle følgende informasjon:Addresse (e-post og vanlig)TelefonnummerLand du skatter tilValgt sparebeløpMaksimum 5 prosent fast brutto lønn i mai 2012Minimum NOK 100Siste søknadsdag: 30. september 2012If you want to participate, you must apply online at no later than 30 September 2012.Some of the information is pre-printed, but you have to fill in any blanks.You also have to fill in the amount you wish to save each month. It should be at least SEK 100 or a similar size of amount in other countries than Sweden (see applicable rules in your country) and not more than five percent of you local fixed gross salary before tax in June 2012.

12 Lokaltspråkelig ekstranetBegynnelsen av september: Lokal informasjon tilgjengelig på ekstranettTilgjengelig for alle internetttilkoblede maskinerDet er ikke behov for brukernavn/passordDett vil også være tilgjengelig på EmployeeSelf Service på SEBs intranett.Innhold:Introduksjonsfilm med Marcus WallenbergSpørsmål og svarMulighet for å sende inn spørsmålBetingelser og avtale for 2012 (Arkiv, brosjyreog betingelser 2008, 2009, 2010 og 2011)Formularer for å f.eks endre kontonummer eller for å senke sparebeløpetSkatteinformasjonLokal kontaktinformasjonIn addition to the printed invitation, an extranet is also available to all employees.The extranet is an internet page with the addressAs the extranet is accessible from any computer connected to the internet, you can access the pages from your home computer.Here, you find all the information from the brochure customised to the circumstances in your own country. You will find general and local questions and answers and you can submit your own question regarding the programme.You can download the invitation, terms and conditions and the agreement. You can also download forms for e.g. changing account information and stop your participation in the programme.Here, you also find whom to contact with different questions.

13 Mer informasjon/kontaktIngen innen SEB kan gi deg råd og tips om hvordan SEB aksjen kommer til å utvikle seg, ei heller kan du få råd om din økonomiske situasjon, skatt eller hvorvidt du skal delta i programmet eller ikke.Informasjon på printInvitasjonsbrev med personlig søknadskodeHer kan du finne alt du behøver å vite om aksjespareprogrammetDu kan sende inn spørsmål om programmet via e-post skjemaSøk onlineFor spørsmål om lønnsfradrag eller informasjon rundt ansettelsesformer etc.Ditt lokale HR kontorFinansiell informasjonBusiness press og sider på internettMore information on the share savings programme is contained at the extranet,If you have specific questions regarding your salary deduction, if you e.g. work abroad or in two countries, you can contact the HR Centre in your country.For more information about the SEB share, please visit You can also find analyses on the SEB share in various business press and internet sites.No one within SEB can advise you on your personal economic issues in connection to the programme, e.g. taxations issues, or how the SEB share will develop, or if you should participate or not. That is a decision you must make yourself after having read the information. If you want to, you can turn to an external advisor for help – but you have to bear any costs yourself.